In Commissioner of Income Tax v. Seth Govindram Sugar Mills, AIR 1966 SC 24, it has been held
A. A clause in the partnership agreement enabling a partner to nominate his successor does not apply to a partnership of two partners which is dissolved by the death of one of them
B. A clause in the partnership agreement enabling a partner to nominate his successor is valid in case of a partnership of two persons which may be dissolved by the death of one of them
C. None can be introduced in the partnership by nomination
D. None can be introduced in the partnership without the consent of all the partners
Answer: Option A
This Question Belongs to Law >> Indian Partnership Act
Section 25 of the Indian Partnership Act, 1932, provides for
A. Liability of the firm for the acts of a partner
B. Liability of a partner for the acts of the firm
C. Liability of the firm for the wrongful acts of a partner
D. Rights of a partner
Where a partner is entitled to interest on the capital subscribed, such interest is payable
A. Out of profits only
B. Out of capital if no profits
C. Out of capital if losses
D. Either (A) or (B) or (C)
Section 44(g) of the Indian Partnership Act, 1932, is to be regarded as
A. Independent of section 44(a) to 44(f) of the Act
B. Ejusdem generis with sections 44(a) to 44(f) of the Act
C. Either (A) or (B)
D. Only (A) and not (B)
A. Suit in respect of any transaction which forms an item of the partnership account
B. Suit for money lent by him to a firm of which he is a member
C. Suit for contributions in respect of moneys borrowed by him under an express agreement with them for the purposes of partnership
D. All the above
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